Bhilai, Chhattisgarh, Feb 9 (UNI) Union Steel Minister Ram Vilas Paswan today laid the foundation stone for the new 3.5 Million Tonnes (MT) capacity plant, on completion the total installed capacity of the Bhilai Steel Plant (BSP) will go up to 7.5 MT.
Addressing a huge rally here Mr Paswan said, this new plant will require an additional investment of Rs 11,262 Crores and will be completed by 2010.
He complemented the workers for acheiving a historic record that in its 50 years of operation the plant has not witnessed even a symbolic protest or a bandh even for five minutes. This is an uniquie record for any steel plant in the world.
Amid continious cheers for the announcement of some benefits for the workers of BSP Mr Paswan announced that the workers will be given a '' Gold Coin and a cash incentive of Rs 2000 each'', and which was well appreciated by the waiting audiance.
He further announced that with the Steel Ministry's persuation they have been able to sign a Memorandum of Understanding with the Ministry of Railways and Steel Authority of India for the construction of a new railway line connecting BSP with the Rowaghat Mines covering a distance of nearly 80 Kms.
He said the SAIL in order to continuously expand its production capacity is looking for long term raw material sources particularly for the Iron ore and Coking Coal and in this respect the ministry is alos helping the company so that it could retain its control over the Chiria Mines and this is expected to be resolved very soon.
The minister said that the SAIL along with four other public sector undertakings namely Coal India Limited (CIL), National Thermal Power Corporation (NTPC), National Mineral Development Corporation (NMDC) and Rashtriya Ispat Nigam Limited (RINL) has formed a Special Purpose Vechile (SPV) for acquiring Coking coal mines oversea and in this contest some progress have already been made with Mozambique.
The equity base of this company will be Rs 3500 crores out of which SAIL's share will be Rs 1000 crores and the rest will contribute Rs 500 Crores each, he added.
He said the company has long plans to bring a number of green field projects to match the rising domestic as well as global demand.
the Ministry has also made a blue print for the expansion of steel production in the country whereby the installed capacity of steel in the country is expected to go up from the present level of 35 MT to 200 MT by 2020 in a phased manner, said Mr Paswan.
Earlier, Speaking on the occasion Chhattisgarh Chief Minister Dr Raman Singh complemented the work force for maintaining its work culture even during the period of acute global recession in this sector and the plant maintained its profit record.
He said the company has bagged seven times out of the 13 times the Prime Minister's Trophy for the Steel Plants.
SAIL Chairman and Managing Director S K Roongta , Lok Janashakti Party MP Ramachandra Paswan and many other dignitiries addressed the gathering.
UNI BKS AK HT1955